As Discussed in Last Analysis Bank Nifty did all targt on upside and Now we have Neptune Retrograde /New Moon and Moon Declination today suggesting important Astro High Intensity date. Today first 15 mins High and Low will decide the trend for the day.For Swing traders Bulls need to move above 33939 for a move towards 34121/34304/34487 . Bears will get active below 33729 for a move towards 33573/33390/33125. Bears got whipsawed today Bulls were able to do 1 target on upside. For Swing traders Bulls need to move above 33777 for a move towards 33962/33147 . Bears will get active below 33408 for a move towards 33223/33038/32854.
Intraday time for reversal can be at 9:41/11:17/12:50/1:59/2:43 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 14.9 lakh with liquidation of 5 Lakh contract , with decrease in Cost of Carry suggesting Long positions were added today.
Bank Nifty rollover cost @ 34598 and Rollover @79.5 % Closed below it and got big move on downside.
As per Musical Octave Above 33195 Rally towards 34183. High made was 34147 so target almost done.
Maximum Call open interest of 41 lakh contracts was seen at 34000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 31 lakh contracts was seen at 33500 strike, which will act as a crucial Support level
MAX Pain is at 33600 and PCR @0.96 . PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets. So, after all the mayhem, we are probably returning to sanity is what is indicated by the rising PCR.
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